An entity uses the installment sales method to recognize revenue. customers pay the installment notes in 24 equal monthly amounts which included 12% interest. Waht is the installment notes receivable balance six months after the sale?

a. 75% of the original sales price. b. Less than 75% of the original sales price. c. The present value of the remaining monthly payments discounted at 12%. d. Less than the present value of the remaining monthly payments discounted at 12%